Principles of Management

Ian Graham's Blog on Operations & Innovation.

7 Operational Risk

A session in which we describe and compare the alternative strategies for managing the risk of operational failure: rigorous appraisal, disciplined following of procedures and employee empowerment.

Synopsis

The last twenty years has seen a rapid growth in the use of management systems in a wide range of areas of operations management. The earliest systems were quality management systems, notably BS5750 in the UK and its international offspring ISO9000. The reasosn for this growth will be discussed and the implications for operations management considered.

Objectives

Be able to explain how quality management is increasingly a subset of risk management

Be able to contrast systems theory and management systems approaches to risk

Be able to explain that management of risk is increasingly audit based

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Dr Ian Graham

Senior Lecturer in Operations Management at the University of Edinburgh Business School, Edinburgh, Scotland. This blog supports his teaching in operations management, innovation and quality management and provides background on his research in the sociology of standards and the management of operational risk.